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Over a month ago, just after Steve Jobs passed away I wrote an article that was pooh-poohed about the Apple (AAPL) TV.

I was not talking about a little box that sits on top of your regular TV, but a real live big screen (or small) flat LCD, LED whatever television set that will incorporate the Siri technology as well as the cloud-based platform used in all of the other new Apple products.

With all the hubbub of how Apple has seen its best days, and that it will wind up like Microsoft (NASDAQ:MSFT) (a huge money making non-growth behemoth) we now find out that my first article was pretty much spot on.

I don't care what price point the TV will land at. It has not stopped anyone from purchasing $500 iPhones or $900 iPads has it? People seem to be willing to pay for their products, and wait on line for days to own it first.

What Will it Mean For Apple Stock

  • Perhaps 6 billion in revenue from this product by itself.
  • Apple has already stated that it could have 37 billion in revenue next quarter.
  • They anticipate more than 9 billion in net profits as well.
  • Their entire forecast can be read here on its 10/18 press release.
  • A full court press to advance all of its technology to the next level (Television) in 2012 and beyond.

Can anyone seriously doubt Apple's commitment to regain the top spot from ExxonMobil (NYSE:XOM) as the world's most valuable public company? Does anyone doubt that Apple will just walk away from the futuristic vision of Steve Jobs, who led Apple to where it is today?

I doubt it.

The Basic Fundamentals

Apple: Price- $382.21/share, Dividend Yield- N/A, ESS Rating- Bullish

Apple Inc. (NASDAQ:<a href='http://seekingalpha.com/symbol/aapl' title='Apple Inc.'>AAPL</a>)
(Click to enlarge)

The PPS of Apple is cheap in my opinion. It has wallowed in a $380-420/share price range since August even as sales of its latest "toys" have flourished.

They have not had a "bad" quarter for a very long time and are anticipating a significant jump in top and bottom line growth for the first quarter of 2012, and with the continued hot pursuit of its own "alpha"...the Apple TV, who knows what the balance of 2012 will bring as well as into the next several years after.

There is no company even close!

Action To Take Now

  • The PPS right now is probably as attractive as it will be.
  • Not a cent of its forward looking estimates seems to have been priced into the stock.
  • Take a look at the links I have placed here.
  • I believe Apple is a solid buy, right now, for value and growth oriented investors.

My Opinion

In this brief article I have restated what I have said before, but this time we have some supporting evidence from the wall Street Journal, as well as the previous Bloomberg article noted above.

Obviously Apple is not an inexpensive stock, however the upside potential is significant and I can envision a $600/share price over the next 12-24 months, if not sooner.

Simply by adding what the company already has told us, to the anticipated release of the Apple TV, as well as the ongoing success of all of its other gadgets, makes Apple the Technology stock to own, if you had to own just one!

*As always, please do your own research prior to making any investment decision. Do not rely only on the opinion of others without assessing your investment goals and tolerance for risk.

Source: Apple TV: It Will Be A Reality In 2012